Continued . . .
Economic Impact of Compliance
Compliance with Sarbanes-Oxley is expensive. The initial SEC estimate was $91,000 per company. This has been shown to be woefully low.[1] A survey by CRA International disclosed that smaller companies ($75 to $700 million in market cap) faced average second-year SOX compliance costs of $860,000, down 31% from year one. Companies over $700 million faced year two compliance costs on average of $4.8 million, down 44%.[2]
Strong criticism and call for reform and repeal has arisen claiming disaster. Compliance is wasteful and too expensive. ... more »
